On March 30, 2011, Judge John G. Koeltl of the Southern District of New York granted in part and denied in part a motion to dismiss an RMBS investor putative class action lawsuit asserting federal securities law claims against RMBS issuer J.P. Morgan Acceptance Corporation I ("JPMAC") and certain of its affiliates, officers and directors. The court dismissed claims relating to several certificates because the putative class representative did not itself purchase those certificates. The court also dismissed plaintiff's Section 12(a)(2) claim, finding plaintiff had failed to allege adequately that it purchased its Certificates in the initial public offering, as opposed to secondary market purchases, as would be required to state a claim under that section. As to the plaintiff's Section 11 claim, the court sustained allegations that the offering materials for the RMBS certificates misrepresented or concealed deficient underwriting and appraisal practices and inflated loan-to-value ratios, but dismissed plaintiff's allegation that the credit ratings for the certificates were misstated. The court sustained control-person liability claim under Section 15 against the officer and director defendants, but dismissed that claim against JPMAC's parent corporation because the parent-subsidiary relationship, standing alone, is insufficient for pleading a Section 15 claim. Decision.